When seeing on the daily chart, the EUR/JPY cross currency pair appears to be moving below the EMA (21) which has a decreasing slope, especially with the appearance of Convergence between the EUR/JPY price movement and the Stochastic Oscillator indicator, it confirms that in the next few days this currency pair will weaken down where the level of 154.84 will be attempted to be broken and close below that level. If successful, EUR/JPY has the potential to continue its weakening back to the levels of 148.04 and 143.23 if the volatility and momentum of the weakening support it, but if on its way to the targets of those levels, EUR/JPY suddenly turns around and strengthens until it breaks and closes above the level of 162.00, then all the previously described downward setups will become invalid and automatically canceled by themselves.
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